Kassewitz: Markets May Move on Big News This Week

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Wall Street is feeling fickle these days.

It opens this last week of July with a 123-point drop in the Dow Jones Industrial Average on Friday, a fall that brought down the prices of most of the local stocks we track.

But this coming week will see big corporate earning reports and more moves by the Federal Reserve which could either calm investors or set their nerves on edge.

"When you have a market setting new records day in and day out, week in and week out, as they start topping out your going to see some of this pull back and pull out (by investors)," investment counselor Phil Kassewitz said during a live interview on "Good Morning Quad Cities".

Employment numbers also continue to be watched by Wall Street.

In the Quad Cities, the unemployment rate dropped but new jobs were not created over the past year. The jobless rate in the Quad Cities is at 6.2% in June, down from 7% in June of 2013. But the number of Quad City jobs remained at 185,900.

"We've got people starting to re-enter the work force," says Kassewitz.

"Some people just gave up, but now they're coming back in."

Companies streamlining and workers using computers from home have also seen an uptick in part-time jobs growing in the economy rather than traditional full time employment.